Dolly Varden Sells Maple Bay Claims

DOLLY VARDEN RESOURCES INC. 1710 - 1177 West Hastings Street, Vancouver, BC, Canada V6E 2L3 Telephone: (604) 640-6357 Telefax: (604) 681-0139

NEWS RELEASE

September 3, 2010 TSXV Symbol - DLV

DOLLY VARDEN SELLS MAPLE BAY CLAIMS

Dolly Varden Resources Inc. (“Company”) has entered into a Sales Agreement dated August 31, 2010 with Quadra Coastal Resources Ltd. (“Quadra”), a private Vancouver-based exploration company arm’s-length to the Company, pursuant to which the Company has agreed to sell to Quadra its “Maple Bay” claims. The Maple Bay claims are three nearby blocks of Crown granted mineral claims which lie inland of the west shore of the Portland Canal southwest of Alice Arm in northwestern British Columbia. The terms provide for a total purchase price of $1,000,000 cash payable:

(a) $25,000 paid on execution of the Agreement - September 1, 2010;

(b) $175,000 by September 10, 2010;

(c) $200,000 by September 1, 2011;

(d) $200,000 by September 1, 2012;

(e) $200,000 by September 1, 2013;

(f) $200,000 by September 1, 2014.

The Issuer has reserved a 1.5% net profits royalty against the Claims - which Quadra will be entitled to purchase for $500,000 cash.

DOLLY VARDEN RESOURCES INC.

Clinton Smyth President & Director

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this News Release.

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